Araştırma Makalesi
BibTex RIS Kaynak Göster
Yıl 2023, Cilt: 16 Sayı: 1, 133 - 137, 01.02.2023
https://doi.org/10.17261/Pressacademia.2023.1677

Öz

Kaynakça

  • Ahn, S.H. & Kim, S.W. (2015). Social investment, social service and the economic performance of welfare states. International Journal of Social Welfare, 24(2), 109–119.
  • Artie, W.Ng. (2019). Socially responsible ınvesting in sustainable development. In book: Encyclopedia of Sustainability in Higher Education, 1, 5-16., Switzerland: Springer. https://www.researchgate.net/publication/332103339_Socially_Responsible_Investing_in_Sustainable_Development
  • Biswas, S. and Ghosh M. (2019). Sustainability in architecture and planning: Consumption and behavior. International Journal of Architecture and Infrastructure Planning, 5(1), 1-9.
  • Boulouta, I., & Pitelis, C.N. (2014). Who needs CSR? The Impact of corporate social responsibility on national competitiveness. Journal of Business Ethics, 119 (3), 349–64.
  • Global Sustainable Investment Alliance -GSIA (2021). Global Sustainable Investment Review 2020. http://www.gsi-alliance.org/wp-content/uploads/2021/08/GSIR-20201.pdf,
  • Harrison, J.S., & Berman, S.L (2016). Corporate social performance and economic cycles. Journal of Business Ethics, 138(2), 279–294.
  • Investing.com, https://www.investing.com/, Accessed: 29.10.2022.
  • Kahn, M. (1995). Concepts, definitions and key issues in sustainable development; the outlook for the future, Proceedings of the 1995 International Sustainable Development Research Conference, 27-28 March 1995, Manchester, England.
  • Kwarteng, A., Dadzie, S.A. and Famiyeh, S. (2016). Sustainability and competitive advantage from a developing economy. Journal of Global Responsibility, 7(1), 110-125.
  • Renneboog, L., Ter Horst, J. & Zhang, C. (2008). The price of ethics and stakeholder governance: The performance of socially responsible mutual funds. Journal of Corporate Finance, 14(3), 302–322.
  • Saccomani, S. (2013). Urban regeneration, https://crp.metu.edu.tr/en/system/files/saccomani_ip_lecture.pdf, Accessed: 13.11.2022.
  • Social Investment Forum (2006). Report on socially responsible ınvesting trends in the United States. Washington, DC.
  • The Forum for Sustainable and Responsible Investment - SIF, https://www.ussif.org/, Accessed: 27.10.2021.
  • Widyawati L. (2019). A systematic literature review of socially responsible investment and environmental social governance metrics. Business Strategy and the Environment, 29(2), 619-637.
  • World Bank,World Development Indicators, https://databank.worldbank.org/source/world-development-indicators, Accessed: 16.09.2022.
  • Xiaoyan Z., Caldecott, B., Harnett, E. & Schumacher, K. (2020). The effect of firm-level ESG practices on macroeconomic performance. Oxford Sustainable Finance Programme, Smith School of Enterprise and the Environment, University of Oxford, Working Paper No. 20-03.

THE INTERACTION BETWEEN SOCIALLY RESPONSIBLE INVESTMENT AND MACROECONOMIC INDICATORS IN THE DEVELOPING COUNTRIES

Yıl 2023, Cilt: 16 Sayı: 1, 133 - 137, 01.02.2023
https://doi.org/10.17261/Pressacademia.2023.1677

Öz

Purpose- The purpose of this study is to examine the interaction between the change in the sustainability index and macroeconomic indicators in developing countries in order to be able to set forth the significance of the impact level of economic conditions on sustainability in the developing countries. Sustainability is a multidimensional concept that expresses not only sensitivity to environmental policies, biodiversity and climate change, but also corporate governance principles and human rights. Accordingly, socially responsible investment is a kind of investment considering not only financial criteria but also environmental, social and corporate governance factors as well. In today's world, both the increase in social chaos, disasters and epidemics all over the world reveal the importance of addressing the issue of sustainability at the institutional and even governmental level and taking urgent action. In this context, sustainability indices have been created in many international stock markets since the end of the 1990s, which are created according to various criteria. These indices follow the companies that comply with the concept of sustainability. Today, many developing country stock markets also have sustainability indices.
Methodology- The study employs panel data obtained from 7 developing countries, namely Brazil, China, India, Indonesia, Malaysia, South Korea and Türkiye for the period of 2015-2022. As the indicator of sustainability, annual percentage change in sustainability index of the related country is taken into consideration. Selected macroeconomic variables are economic growth, change in consumer price index, change in dollar based exchange rates and the ratio of current account balance-GDP. Within the scope of the subject, the importance of adapting to sustainability in the developing countries and the activities carried out are also discussed.
Findings- The analysis reveals that only changes in exchange rates and consumer price index have statistically significant effect on the change in sustainability index. Accordingly, while increases in exchange rates have negative effects, increases in consumer price index have positive effect on the sustainability index.
Conclusion- Despite the fact that countries have started to provide sustainability indices within their stock exchanges quite recently, and hence analysis had to be conducted by limited data, this study is expected to be among the first studies aiming to set forth the interaction between sustainability and macroeconomic conditions. Hence, this study is expected to make a significant contribution in the existing literature. Based upon the analyisis, it may be concluded that the policies should be implemented so as to compensate the negative effects of exchange rates. Furthermore, it should also be analysed more closely what the components behind inflation affecting sustainability in the selected countries, and the trigger behind these findings are.

Kaynakça

  • Ahn, S.H. & Kim, S.W. (2015). Social investment, social service and the economic performance of welfare states. International Journal of Social Welfare, 24(2), 109–119.
  • Artie, W.Ng. (2019). Socially responsible ınvesting in sustainable development. In book: Encyclopedia of Sustainability in Higher Education, 1, 5-16., Switzerland: Springer. https://www.researchgate.net/publication/332103339_Socially_Responsible_Investing_in_Sustainable_Development
  • Biswas, S. and Ghosh M. (2019). Sustainability in architecture and planning: Consumption and behavior. International Journal of Architecture and Infrastructure Planning, 5(1), 1-9.
  • Boulouta, I., & Pitelis, C.N. (2014). Who needs CSR? The Impact of corporate social responsibility on national competitiveness. Journal of Business Ethics, 119 (3), 349–64.
  • Global Sustainable Investment Alliance -GSIA (2021). Global Sustainable Investment Review 2020. http://www.gsi-alliance.org/wp-content/uploads/2021/08/GSIR-20201.pdf,
  • Harrison, J.S., & Berman, S.L (2016). Corporate social performance and economic cycles. Journal of Business Ethics, 138(2), 279–294.
  • Investing.com, https://www.investing.com/, Accessed: 29.10.2022.
  • Kahn, M. (1995). Concepts, definitions and key issues in sustainable development; the outlook for the future, Proceedings of the 1995 International Sustainable Development Research Conference, 27-28 March 1995, Manchester, England.
  • Kwarteng, A., Dadzie, S.A. and Famiyeh, S. (2016). Sustainability and competitive advantage from a developing economy. Journal of Global Responsibility, 7(1), 110-125.
  • Renneboog, L., Ter Horst, J. & Zhang, C. (2008). The price of ethics and stakeholder governance: The performance of socially responsible mutual funds. Journal of Corporate Finance, 14(3), 302–322.
  • Saccomani, S. (2013). Urban regeneration, https://crp.metu.edu.tr/en/system/files/saccomani_ip_lecture.pdf, Accessed: 13.11.2022.
  • Social Investment Forum (2006). Report on socially responsible ınvesting trends in the United States. Washington, DC.
  • The Forum for Sustainable and Responsible Investment - SIF, https://www.ussif.org/, Accessed: 27.10.2021.
  • Widyawati L. (2019). A systematic literature review of socially responsible investment and environmental social governance metrics. Business Strategy and the Environment, 29(2), 619-637.
  • World Bank,World Development Indicators, https://databank.worldbank.org/source/world-development-indicators, Accessed: 16.09.2022.
  • Xiaoyan Z., Caldecott, B., Harnett, E. & Schumacher, K. (2020). The effect of firm-level ESG practices on macroeconomic performance. Oxford Sustainable Finance Programme, Smith School of Enterprise and the Environment, University of Oxford, Working Paper No. 20-03.
Toplam 16 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Finans, İşletme
Bölüm Makaleler
Yazarlar

Merve Tuncay 0000-0002-2379-1314

Bayarmaa Dorjnaran Bu kişi benim 0000-0001-5999-9208

Yayımlanma Tarihi 1 Şubat 2023
Yayımlandığı Sayı Yıl 2023 Cilt: 16 Sayı: 1

Kaynak Göster

APA Tuncay, M., & Dorjnaran, B. (2023). THE INTERACTION BETWEEN SOCIALLY RESPONSIBLE INVESTMENT AND MACROECONOMIC INDICATORS IN THE DEVELOPING COUNTRIES. PressAcademia Procedia, 16(1), 133-137. https://doi.org/10.17261/Pressacademia.2023.1677
AMA Tuncay M, Dorjnaran B. THE INTERACTION BETWEEN SOCIALLY RESPONSIBLE INVESTMENT AND MACROECONOMIC INDICATORS IN THE DEVELOPING COUNTRIES. PAP. Şubat 2023;16(1):133-137. doi:10.17261/Pressacademia.2023.1677
Chicago Tuncay, Merve, ve Bayarmaa Dorjnaran. “THE INTERACTION BETWEEN SOCIALLY RESPONSIBLE INVESTMENT AND MACROECONOMIC INDICATORS IN THE DEVELOPING COUNTRIES”. PressAcademia Procedia 16, sy. 1 (Şubat 2023): 133-37. https://doi.org/10.17261/Pressacademia.2023.1677.
EndNote Tuncay M, Dorjnaran B (01 Şubat 2023) THE INTERACTION BETWEEN SOCIALLY RESPONSIBLE INVESTMENT AND MACROECONOMIC INDICATORS IN THE DEVELOPING COUNTRIES. PressAcademia Procedia 16 1 133–137.
IEEE M. Tuncay ve B. Dorjnaran, “THE INTERACTION BETWEEN SOCIALLY RESPONSIBLE INVESTMENT AND MACROECONOMIC INDICATORS IN THE DEVELOPING COUNTRIES”, PAP, c. 16, sy. 1, ss. 133–137, 2023, doi: 10.17261/Pressacademia.2023.1677.
ISNAD Tuncay, Merve - Dorjnaran, Bayarmaa. “THE INTERACTION BETWEEN SOCIALLY RESPONSIBLE INVESTMENT AND MACROECONOMIC INDICATORS IN THE DEVELOPING COUNTRIES”. PressAcademia Procedia 16/1 (Şubat 2023), 133-137. https://doi.org/10.17261/Pressacademia.2023.1677.
JAMA Tuncay M, Dorjnaran B. THE INTERACTION BETWEEN SOCIALLY RESPONSIBLE INVESTMENT AND MACROECONOMIC INDICATORS IN THE DEVELOPING COUNTRIES. PAP. 2023;16:133–137.
MLA Tuncay, Merve ve Bayarmaa Dorjnaran. “THE INTERACTION BETWEEN SOCIALLY RESPONSIBLE INVESTMENT AND MACROECONOMIC INDICATORS IN THE DEVELOPING COUNTRIES”. PressAcademia Procedia, c. 16, sy. 1, 2023, ss. 133-7, doi:10.17261/Pressacademia.2023.1677.
Vancouver Tuncay M, Dorjnaran B. THE INTERACTION BETWEEN SOCIALLY RESPONSIBLE INVESTMENT AND MACROECONOMIC INDICATORS IN THE DEVELOPING COUNTRIES. PAP. 2023;16(1):133-7.

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